SwissAid Report Finds UAE Gold Smuggling Persists Despite New Rules
· Business · Bloomberg, The Independent
Gold smuggling from Africa to the United Arab Emirates remains largely unaffected by the Gulf state's recent implementation of stricter sourcing regulations, according to a report by SwissAid. Despite the introduction of tougher compliance measures, the illicit trade shows little sign of slowing down. The findings suggest that existing enforcement mechanisms have failed to curb the flow of illegally sourced gold into the UAE market. The report highlights ongoing challenges in regulating the gold supply chain within the region.
Why it matters
Persistent smuggling undermines international efforts to clean up the gold supply chain and prevents the formalization of artisanal mining sectors in Africa.
Read the original report — Bloomberg
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